Straight Bill of Lading (SBOL)

Straight Bill of Lading (SBOL)

Straight Bill of Lading (SBOL) is one which is made out in the name of consignee. At the port of destination it is not necessary to present a straight bill of lading to take delivery of goods, except  where it is necessary for the purpose of identification. If the consignee is known to the master of the  ship, goods are delivered against a simple receipt. An ‘order’ bill of lading  is one which is made out  to the order of the consigner or supplier,It can be transferred by endorsement to other parties.Such a bill of lading usually contains a condition directing the shipping company to notify the consignee when the goods arrived in case of straight bill of lading, the consignor loses control over the goods as soon as the bill is obtained from the shipping company.The title to the goods cannot be transferred to the intermediate parties, such as a bank and therefore, the document has no use as collateral. It can not be attached to bills of exchange presented for negotiation. This type of bill of  lading is generally used when goods are cousigned by a firm to a branch or where the buyer has paid in advance and there is no need for financing , The document has only limited use in special circumstances.

Import Bill Scrutiny Checklist

Import Bill Scrutiny Checklist

Import Bill Scrutiny Checklist   Import Bill Scrutiny Checklist Import Bill Scrutiny Checklist Following points should be carefully checked in respect of the relevant documents: (a) Forwarding schedule of the …

Import Policy Order

Import Policy Order The Import Policy Order covers a period of 5 years — the last one being for the period from July 2010 to June 2015. As per this …

H S CODE

H S CODE Classification of commodity has been introduced in early nineteenth century in Europe. Internationally accepted coding system was first introduced in 1931 as Brussels Nomenclature and in 1937 …

Post Import Finance

Post Import Finance: Some time branch faces difficulties in retiring import document against L/Cs opened under arranged post import finance facilities, due to lack of proper documentation formalities. In order …

Import Business of Islamic Bank

Import Business of Islamic Bank Import Business : All Islamic bank of Bangladesh runs their import business is mainly divided into the following three categories: i) Import of Commercial goods. …

Foreign Remittance

Foreign Remittance  Definition: Remittance represents transfer of fund from one place to another through official channel. Foreign Remittance: Foreign Remittance refers remittance of Foreign currency that are received in and …

Stale Bill of Lading

Stale Bill of Lading What is stale bill of lading A bill of lading is said to a stale it bears a date subsequent to the expiry date of credit …